Thread: Questions for studio owners about taking renters

I'm seeking input from studio owners (those who lease or own their own studio space).

I just opened my studio this past July. My classes are generally during evening and weekend hours, so I would like to rent the space out during the morning. Please tell me what I need to consider before taking renters. I lease the space, and I already have the OK from my landlord to rent space out to other instructors. I've checked with my insurance agent, and he advises that I require renters to carry their own business liability policies.

What else, though? Should I have a contract for renters? (and if so, can anybody point me to a good template for this?) I used to rent from a local ballet studio, and they never required me to sign a contract. I was always really diligent about paying rent, but I always wondered what their recourse would have been for renters who didn't pay?

Any info would be greatly appreciated! Thanks!

I advise a contract, and credit card and/or a non-refundable deposit.

For my short term renters (1 day or a couple days here and there) I take a credit card - they have to pay rent on or before the rental date. Defaulted payments get charged to the card. Long term renters I get a deposit, just to cover off my costs if they bail at the last minute. I invoice them montlhy and credit the deposit back to them as their last month's payment.

Enthusiastic and well-meaning renters who want to run a class may bail on you at the last moment if they don't get enough people to run their class, so be careful. (this is the reason I get a deposit).

Also be careful that if you are giving keys to renters that they do not enter the space outside of their designated time slots. (i.e. use the studio without paying for it.)

PM me if you would like me to send you a generic copy of my rental agreement.

Originally Posted by elljay

Also be careful that if you are giving keys to renters that they do not enter the space outside of their designated time slots. (i.e. use the studio without paying for it.)

Elljay, thanks for all the tips. I'll PM you shortly.

Regarding keys...this is one of the parts that frightens me the most. I am a total control freak and dismayed at the idea of giving out keys. Do any of you studio owners out there manage to avoid giving out keys? For me, I can't see a way around it due to my work schedule.

I don't have any answers, only another question.

What sorts of renters do people find for daytime hours? On an ongoing basis, I mean, not occasional use. I've never found anyone who wanted to use my studio more than once a month, and it's not worth it to me to mess around with keys, contracts, etc. for a one-off usage.

Originally Posted by Lauren_

What sorts of renters do people find for daytime hours? On an ongoing basis, I mean, not occasional use.

Studios around here have daytime classes for:

• Lunch hour yoga
• Just about anything for senior citizens
• Adult ballet (marketed to full-time homemakers)
• "tiny tots yoga"
• Tai chi (not sure of target market)
• Post-partum exercise classes (the women bring their babies)

OK, thanks for the info. I 've tried some of those classes myself, but there just isn't enough daytime demand to even pay me, a renter would have an even harder time.

I guess it's my community -- our stay-at-home moms need childcare, our seniors are already pretty well-served, etc.

Bumping this up...any other input, anyone?

Originally Posted by Lauren_

I don't have any answers, only another question.

What sorts of renters do people find for daytime hours? On an ongoing basis, I mean, not occasional use. I've never found anyone who wanted to use my studio more than once a month, and it's not worth it to me to mess around with keys, contracts, etc. for a one-off usage.

I have Yoga during the day, and have attempted to run a "Parent/Child" movement class. Those are really popular at the community centers with stay-at-home moms. I'm still working on getting daytime stuff off the ground and am focusing on classes that involve both the children and mom (or the adult care-giver). Tai Chi is a great idea but isn't a option for me, I'm two doors away from a Karate studio that offers this. My current project is scouring all the community centers to see what they offer and try some of their ideas! If I find something that works Lauren, I'll let you know!

I also have a couple of troupes who rent regularly for weekly rehearsals.

As for the key situation - yeah, other than paying someone to open and close the studio for me, I have no alternative but to loan out keys. I know most of my renters pretty well (one of them is the former studio owner) so its worked out so far.

Hey Elljay...PM'd you. Not sure if my PMs are working properly...

Will check again! Haven't seen it yet - you can email me direct: info at ammara dot ca.

Originally Posted by nisaasaintlouis

Elljay, thanks for all the tips. I'll PM you shortly.

Regarding keys...this is one of the parts that frightens me the most. I am a total control freak and dismayed at the idea of giving out keys. Do any of you studio owners out there manage to avoid giving out keys? For me, I can't see a way around it due to my work schedule.

Find someone you know and trust that can open the doors on your behalf. We have done that at the Vegas studios when we weren't able to open the doors ourselves. Only our actual staff members had keys.

I know of a Studio that found a great group of daytime renters. The owner performed and taught a mini class at the community center in an 'over 55' complex. The community center was quite busy and could not accommodate all the requests. Some of the ladies rented the Studio at least once each week to play cards for two hours. They brought a thermos of coffee (spiked for certain), and spent time sitting around a card table laughing and attempting to play cards. They said they needed to get away from husbands and have a bit of girl-talk. Some of the guys also rented the space for cards without any attempt to hide their alcohol. Those groups insured they did not book on the same day. Another group reserved a slot to do yoga. The last time I talked with the Studio owner she said that one performance lead to the Studio being rented for 6-10 hours during the day most weeks. The groups were quite respectful of her space. She would often find flowers or home-made brownies as a thank you gift. The guys even replaced fluorescent fixtures that were flickering, they said she was like a daughter to them and it was the least they could do.

Nisaa - sent you the email but said it could not be delivered?

Originally Posted by elljay

Nisaa - sent you the email but said it could not be delivered?

Dang it! I wonder if it's the spam filter acting up? Try me again if you get the chance: nisaa AT bellydancewithnisaa DOT com

Thanks! Sorry to be a pain!